The Ghana Gold Board (GoldBod) has suspended the gold trading licences of McWoode Ray 24 Enterprise with immediate effect citing various breaches in the terms and conditions of its licence as well as the Trading Directives issued by the GoldBod, contrary to the Ghana Gold Board Act, 2025 (Act 1140).
In a statement released on July 24, 2026
GoldBod disclosed that the proprietor of the enterprise has already been arrested and is currently being prosecuted before the High Court, Accra.
Goldbod added that the proprietor is currently on remand and will continue being in police custody by order of the High Court pending the continuation of criminal proceedings.
The Board consequently prohibited McWoode Ray 24 Enterprise from engaging in any transaction involving gold with immediate effect.
Goldbod then went ahead to caution all licensed buyers, aggregators, self-financing aggregators, and miners against engaging in any commercial activities with the suspended firm, adding that whoever if found culpable will face the full rigor of the law .
GoldBod stated that it remains committed to ensuring strict compliance with the laws, licence conditions, and trading directives governing Ghana’s gold trading sector and will continue to take decisive enforcement action against all persons and entities that undermine the integrity, transparency, and orderly operation of the industry.
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